Guarseed futures continue to rise for the third straight day today hitting the daily upper limit of 4% to set new peak level of over Rs 15,000 per quintal due to low production and high demand.
Marketmen said despite imposing of several measures by the exchange authorities to check unprecedented rise in guarseed prices, the commodity remained in speculators demand on tight supply and set a new peak level.
Low production and damaged crops in neighbouring countries sparked heavy buying by exporters in spot markets, they added.
At the National Commodities and Derivatives Exchange, guarseed prices for delivery in February hit daily upper limit of 4% surging by Rs 580 to all time high of Rs 15,079 per quintal. It clocked a business turnover of 20,680 lots.
The most active March contract jumped up by Rs 585, or 4%, to Rs 15,209 per quintal, with an open interest of 25,270 lots.
